Kazakhstan's Kaspi covered on first day of London IPO

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By Sam Kerr
08 Oct 2020

Kaspi, the Kazakh fintech and e-commerce firm, has attracted enough orders to cover the books on its London IPO on the first day, according to sources close to the deal.

Citi and Morgan Stanley are global coordinators on the deal. Renaissance Capital is a joint bookrunner.

The 100% secondary sale will involve a sale of Global Depositary Receipts (GDRs) on the London Stock Exchange, each representing one ordinary share in Kaspi, which is listed on the Kazakhstan Stock Exchange.

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